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2021-09-02
Sahem Weekly Trading Report (29-08)-(02-09)-2021
In the first week of September, Al-Quds Index increased by 0.42% than its previous weekly closing level, to record 573.30 points. While Palestine Stock Exchange PEX witnessed relatively medium-volume trading that was intervened with executing a transaction of 0.57 million shares on the stocks of the National Insurance Company NIC in the week. Regarding the blue-chips, half of them closed with increase in their prices and the other half stood-still, closing with no change than the previous week. On another hand, and as obvious to the observer, the current month of September is of much importance with the approach of the companies’ announcements of financial results for the third quarter of 2021, because of their ability to boost the price jumps to chart the trend of the market until the end of the year
Regarding the significant news of this week, the National Bank TNB announced, after taking the necessary approvals, offering 13.76 million shares for secondary subscription for one dollar per share, from Thursday morning 09/09/2021 till Thursday evening 30/09/2021, for the bank’s shareholders as for 28/07/2021 , through the National Bank TNB and Cairo Amman Bank. With this subscription, TNB will raise the authorized capital from $100 million/shares to $110 million/shares. Also, it will raise the paid-up capital by 15% from $91.76 million/shares to $105.53 million/shares. In the same context, the general assembly of the National Aluminum and Profile Company NAPCO approved in its meeting on 24/08/2021, raising the paid-up capital from JD8.00 million to JD11.00 million through secondary public subscription for three months that can be extendable in all branches of Cairo-Amman Bank or the company’s headquarter for the price of JD1 plus 20% issuance premium (JD1.20/per share).
Regarding the economic indicators, the overall Producer Price Index (PPI) for Palestine with its base year (2019) reached 99.32 in July 2021, as it increased by 0.83% compared to 98.50 in June 2021. The increase in PPI for July 2021 were traced back to the increase in prices of the following major activities compared to the previous month: agriculture, forestry and fishing goods by 5.03%, which constitute 29.94% from all products’ activities, manufacturing by 0.43%, which constitute 58.92% from all products’ activities, versus a stabilization in the price of mining and quarrying at 98.55, constituting 1.41% from all products’ activates. On the other hand, electricity, gas, steam and air conditioning supply reported a decline in their prices by 8.66%, which constitute 8.23% from all products’ activates. Also, water supply; sewerage, waste management and remediation activities witnessed a decline of 0.49% in their price, which constitute 1.50% from all products’ activities.
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